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Momentum Trading Signal Goes Long AUD/US Dollar

Tuesday, 07 October 2008 00:16:34 GMT

Written by Luis Gil, DailyFX.com

Our Forex Automated Trading Signals bought the Australian Dollar versus the Greenback using the Momentum2 strategy. By looking at the image provided below, one may notice the signal’s downward trend contradicting the direction of the order (long). One may want to consider such discrepancy before placing such a trade. On the other hand, the signal also believes that a range trade favors the Kiwi.

10-06-08 audusd

See more Forex Buy/Sell Signals on DailyFX+ and be sure to monitor any updates on these specific signals, as our automated forex signals can and do change on a daily and intraday basis. For more information and guides on using our DailyFX Buy/Sell Signals, see our Weekly Forex Trading Strategy Outlook report.

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